Sitting in deep red, thud of the bags

2020-03-06T19:32:14.392Z

For the Moody's agency, the coronavirus effect has probably already sent the Italian economy into recession. The rating agency expects gross domestic product to contract in the first quarter of 2020 and cuts the growth estimate for this year to -0.5%. Of course, this also weighed on the bags, which all close in deep red. Piazza Affari, at the end of another negative week, in today's session burned about another 17 billion euros, losing 3.50% (-8.8% since the beginning of the week). It was not the worst place: London lost 3.62%, Frankfurt 3.37% and Paris 4.14%. Wall Street is also in negative territory, with the Dow Jones falling by two points and the Nasdaq by almost three points. Meanwhile, the agreement between the OPEC oil-producing countries and those outside the cartel, Russia in the lead, has jumped in Vienna. There is no agreement on a production cut to deal with the coronavirus crisis and this causes oil prices to fall: brent at 45.80 and American crude at 42 dollars a barrel.